The demand function for a good is Q = 100 − 2p. What is the elasticity at the point p = 10 and Q = 80. (Use the definition  = dQ/dp · p/q, where dQ/dp=-2).

Micro Economics For Today
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ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 21SQ: If bus travel is an inferior good, its income elasticity of demand is a. strictly greater than 1. b....
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The demand function for a good is Q = 100 − 2p.


What is the elasticity at the point p = 10 and Q = 80.

(Use the definition  = dQ/dp · p/q, where dQ/dp=-2).

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What would the elasticity be if the demand function were Q = 150 -2P (USE P = 100)?

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